Ajo LP trimmed its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 176,173 shares of the electronics maker’s stock after selling 36,284 shares during the quarter. Ajo LP’s holdings in TE Connectivity were worth $14,226,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in TE Connectivity during the fourth quarter worth about $25,000. Taylor Hoffman Wealth Management grew its stake in TE Connectivity by 432.8% during the fourth quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock worth $27,000 after buying an additional 290 shares in the last quarter. Synovus Financial Corp grew its stake in TE Connectivity by 97.2% during the first quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after buying an additional 175 shares in the last quarter. First Interstate Bank acquired a new stake in TE Connectivity during the first quarter worth about $32,000. Finally, Legacy Advisors LLC acquired a new stake in TE Connectivity during the first quarter worth about $33,000. 91.19% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on TEL. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. HC Wainwright reiterated a “sell” rating on shares of TE Connectivity in a research note on Friday, May 3rd. Finally, ValuEngine downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. TE Connectivity presently has an average rating of “Hold” and a consensus target price of $94.43.
In other news, Director Thomas J. Lynch sold 42,239 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $95.11, for a total value of $4,017,351.29. Following the sale, the director now directly owns 208,121 shares in the company, valued at approximately $19,794,388.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Terrence R. Curtin sold 128,750 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the completion of the transaction, the insider now owns 213,719 shares of the company’s stock, valued at approximately $20,132,329.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,383 shares of company stock worth $28,368,769. 0.80% of the stock is currently owned by corporate insiders.
TEL opened at $88.59 on Thursday. TE Connectivity Ltd has a 1-year low of $69.84 and a 1-year high of $99.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41. The company has a market capitalization of $28.72 billion, a PE ratio of 15.79, a P/E/G ratio of 1.48 and a beta of 1.15.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the company posted $1.42 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd will post 5.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $0.46 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, May 23rd. TE Connectivity’s dividend payout ratio (DPR) is presently 32.80%.
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TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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